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Weekly Round Off With HTE 🔙✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
Newcomers welcome to HTE's hub! Join 35k+ CEOs, CMOs, and marketers for game-changing insights. Get ahead, sign up for brilliance, and let's rise together! 🚀
🤖 Google invests $2B in AI startup also backed by Amazon
🕶️ PAI-supported eyewear maker Marcolin mulls sale
💰 Unilever sells Dollar Shave Club to private equity firm
⚖️ Low-cost e-commerce rivals Shein and Temu drop US court cases
🌱Plant-Based Material Science Company Algenesis secures funding to battle climate change and scale production
Google Commits $2B To AI Startup That Amazon Also Invested In
29 October 2023, Media Post
🚀 Google has upped its investment in Anthropic, an AI startup, with an initial $500 million and plans for an additional $1.5 billion over time. Anthropic, the developer of Claude 2, a chatbot competitor to OpenAI’s ChatGPT, counts Slack, Notion, and Quora among its users. Amazon, Salesforce, and Zoom have also invested in the company. These investments aim to benefit advertisers through the development of AI products and services.
💡 Amazon, as part of its investment, offers customers compute infrastructures and AI training models through AWS Trainium and Inferentia chips. LexisNexis Legal & Professional uses Claude 2 models for conversational search and legal drafting via Amazon's Lexis+ AI solution.
📊 Anthropic's Claude 2 excels in summarizing large data sets, handling around 75,000 words compared to ChatGPT's 3,000-word capacity. Amazon and Anthropic are collaborating on the development of reliable foundation models.
PAI-Backed Eyewear Maker Marcolin Considers Sale
26 October 2023, Yahoo Finance
Italian eyewear company Marcolin, backed by PAI Partners, is exploring a potential sale with Goldman Sachs to strategic buyers, aiming for a valuation of €1.35 billion ($1.43 billion) 👓💼. However, the outcome remains uncertain, and neither PAI nor Goldman Sachs has commented. Marcolin, founded in 1961, experienced a 20% revenue increase to €548 million last year 📈.
They collaborated with Estee Lauder for the $2.8 billion acquisition of Tom Ford and have licensing agreements with luxury brands like Adidas, Max Mara, and Ermenegildo Zegna. Marcolin's bonds due in 2026 have risen by 2.4 cents on the euro, reaching approximately 94 cents.
Unilever Sells Dollar Shave Club to Private Equity Firm
27 October 2023, Inc
Unilever is selling Dollar Shave Club, a former direct-to-consumer (DTC) giant, to private equity firm Nexus Capital Management LP. Unilever retains a 35% minority interest in the company. This move follows Unilever's reported 3.8% revenue decline and reflects a trend of corporations divesting once-booming DTC businesses. Dollar Shave Club's founder, Michael Dubin, played a crucial role in its early marketing success.
Under new ownership, Dollar Shave Club aims to leverage its strong brand loyalty, DTC model, and omnichannel presence for growth and plans to introduce additional brands with similar characteristics. Unilever is shifting its focus to its top 30 "power brands." 💼💰🪒
Low-Cost E-Commerce Rivals Shein And Temu Shelve US Court Cases
27 October 2023, Reuters
In a surprising move, rivals Shein and Temu, owned by PDD Holdings, have jointly applied to settle their legal disputes in the U.S., signifying a truce amidst their global market share battle. Legal filings in Chicago and Boston seek the dismissal "without prejudice" of two ongoing cases, without specifying the reasons or settlements.
Shein accused Temu of using social media influencers to tarnish their reputation, while Temu alleged Shein violated U.S. antitrust laws. Both companies, known for their low-priced, fast fashion, have denied wrongdoing. Their battle has reshaped the retail landscape, with Temu aiming for $16 billion GMV in 2023. 😮🛍️
Plant-Based Material Science Company Algenesis Secures New Funding To Scale Production And Fight Climate Change
26 October 2023, PR Newswire
Algenesis Corporation, a plant-based material science company, has raised $5 million in a funding round led by First Bight Ventures and backed by Circulate Capital. Algenesis is known for its groundbreaking Soleic® technology, which creates renewable, fully biodegradable bioPolyurethane (bioPU) from plants and algae, rivaling traditional petroleum-based plastics in cost and performance.
This eco-friendly alternative biodegrades in compost within months, containing no harmful PFAS additives, while also emitting up to 50% fewer greenhouse gases during production compared to petroleum-based counterparts. The funds will facilitate the expansion of Soleic® into various applications, cementing Algenesis as a leader in sustainable innovation. 🌱💼🌍
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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